Dollarama Inc. (TSX:DOL) Q4 profit beat analysts' estimates as the average amount customers spent at its stores increased, sending the Canadian discount retailer's shares up 6.8% in early trading on Thursday.
The Montreal-based company reported that:
- Sales revenue jumped 11.5% to $854.5 million, beating analysts' average estimate of C$846.9 million saying the rise in sales was aided by:
- a 7.8% increase in the average checkout bill (it increased its price ceiling to $4 last year)...
- and newer products offered in the fourth quarter.
- Same-store sales rose 5.8% in the quarter ended Jan. 29, compared with a 7.9% rise a year earlier.
- Net income rose 17.1% to $1.24/share vs. the average analyst estimate of $1.11 per share.
- The quarterly dividend was increased C$0.11 per share from C$0.10.
- It opened 26 new stores in the fourth quarter.
- It increased its long-term target to 1,700 stores from 1,400 stores, over the next 8-10 years across Canada...
- it will accept credit cards as a method of payment in all of its stores from the second quarter of fiscal 2018.
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